Bouwinvest Real Estate Investors is to allow third-party investors access to its international real estate investment platform for the first time, which to date has been run exclusively for Dutch pension fund bpfBOUW.
Real estate investment manager Bouwinvest, established by the Dutch construction workers pension fund in 2003, opened its domestic property funds to third-party investors in 2010, but its €10.5bn in international investments have been managed on behalf of bpfBOUW only.
BpfBOUW has invested globally in real estate through Bouwinvest for more than 20 years, utilising direct investments, funds and listed real estate investment trusts (REITs) to gain exposure.
International investments include senior living in Japan, and housing in Ireland and Germany. In June, Bouwinvest invested alongside fellow Dutch pension asset manager APG in housing in South Korean, jointly committing $300m (€259m) to a Tishman Speyer venture.
Jasper Petit, who took over as managing director of international investments at Bouwinvest from Stephen Tross who joined Greykite this year, said: “We are excited to now offer our international investment capabilities to a wider group of investors. We have invested bpfBOUW’s capital through a wider range of funds, JVs, club deals, co-investments, real estate debt and listed REITs in North America, APAC and Europe for over two decades, providing solid returns and diversification benefits.
“We believe we have a compelling offer and are looking forward to being the gateway to international real estate markets for new clients. Given the repricing of real estate, and what we believe is the start of a new cycle, this is an excellent moment in time to invest.”
It has been 16 years since Bouwinvest opened up its series of sector-specific Dutch property funds to institutional investors, which today number more than 35, according to the firm. The latest move will be seen as part of the company’s gradual move from operating as bpfBOUW’s exclusive, in-house real estate platform to becoming a fully global third-party real estate investment manager.
Paul van Gent, board member of bpfBOUW, said: “Bouwinvest has been managing our international real estate investments for many years and has built up extensive expertise, track record and a strong international network.
“As both shareholder and client, we support the decision to make this expertise available to a broader group of institutional investors. Greater scale can provide further access to attractive investment opportunities and strengthens Bouwinvest as an employer. This is also in the interest of bpfBOUW.”
